M&I Bank Deploys Metavante Image Capture Technology At The Branch
3/26/2009
MILWAUKEE, March 26, 2009 – Metavante (NYSE:MV), a leading
provider of banking and payments technology, today announced that M&I
Marshall & Ilsley Bank (M&I Bank) has selected Metavante Corporation for
branch capture technology. Founded in 1847, M&I Bank is headquartered in
Milwaukee.
M&I Bank will deploy Metavante’s Direct Branch™ solution at its 375
locations in eight states, allowing the bank to image-capture checks at the back
counter of each branch office. Capturing image transactions at the point of
presentment will enable M&I Bank to capitalize on the cost savings from
check image exchange and electronic clearing and settlement. Already using
Metavante’s Direct Merchant™ platform to image-capture check payments for its
corporate and merchant customers, the implementation of the Direct Branch
solution will further streamline M&I Bank’s check image capture, transaction
balancing and clearing process.
The agreement marks an expansion of the bank’s extensive relationship with
Metavante. M&I Bank uses many Metavante banking and payment products and
services, including: core processing, ATM support, biller direct payments,
customer relationship management, electronic banking, card processing, wealth
management, risk and compliance, card personalization, electronic payments,
healthcare payments, lending, merchant processing and participation in the NYCE
Payments Network.
“Direct Branch integrates with our existing check processing system, and
provides a direct path to truncation and check image exchange,” said John
Roberts, senior vice president, M&I Bank. “As a result, we will be able to
cut operating costs, increase productivity and accelerate transaction processing
to deliver same or next-day availability of funds to our customers.”
“The check image market is in transition, and financial institutions are
looking to lower costs and increase efficiencies. Metavante’s enterprise
approach to payment solutions is helping financial institutions efficiently
navigate these changes with confidence,” said Paul Danola, president, Metavante
Image Solutions. “Through the bank’s deployment of Direct Branch, Metavante
continues to provide the bank with comprehensive solutions to automate its
payments processing infrastructure and reduce overall cost
structure.”
Metavante’s image solutions provide comprehensive solutions that help
institutions and businesses transition from paper to electronic payments and
image processing. Solutions that can be delivered in-house or outsourced include
distributed capture, check and remittance processing, and fraud detection, as
well as document and report management. Customers encompass organizations of all
sizes from start-up organizations to the world’s largest financial institutions
and corporations.
About M&I Marshall & Ilsley Bank
M&I
Marshall & Ilsley Bank is an affiliate of Marshall & Ilsley Corporation
(NYSE:MI), a diversified financial services corporation headquartered in
Milwaukee, Wis., with $62.3 billion in assets. Founded in 1847, M&I Marshall
& Ilsley Bank is the largest Wisconsin-based bank, with 193 offices
throughout the state. In addition, M&I has 53 locations throughout Arizona;
32 offices in Indianapolis and nearby communities; 36 offices along Florida’s
west coast and in central Florida; 16 offices in Kansas City and nearby
communities; 26 offices in metropolitan Minneapolis/St. Paul, and one in Duluth,
Minn.; and one office in Las Vegas, Nev. M&I’s Southwest Bank subsidiary has
17 offices in the greater St. Louis area. M&I also provides trust and
investment management, equipment leasing, mortgage banking, asset-based lending,
financial planning, investments, and insurance services from offices throughout
the country and on the Internet (www.mibank.com or www.micorp.com). M&I’s customer-based
approach, internal growth, and strategic acquisitions have made M&I a
nationally recognized leader in the financial services industry.
About Metavante
Metavante Technologies, Inc. (NYSE:MV) is
the parent company of Metavante Corporation. Metavante Corporation delivers
banking and payments technologies to approximately 8,000 financial services
firms and businesses worldwide. Metavante products and services drive account
processing for deposit, loan and trust systems, image-based and conventional
check processing, electronic funds transfer, consumer healthcare payments,
electronic presentment and payment, outsourcing, and payment network solutions
including the NYCE Network, a leading ATM/PIN debit network. Metavante (www.metavante.com) is headquartered in
Milwaukee.
Metavante, NYCE and Direct are registered trademarks of Metavante
Corporation, which is the principal subsidiary of Metavante Technologies, Inc.